UPDATED 1:53 PM PT – Saturday, November 13, 2021
Sen. Chuck Schumer (D-N.Y.) has called on Joe Biden to cancel student debt.
The Senate Majority Leader has relentlessly taken the matter to Twitter, claiming that cancelling student debt would give the economy the immediate boost it needs. Schumer said student debt hasn’t become a ladder up, but an anchor weighing Americans down. He added it makes it harder to start a family and buy a home.
Not thinking today would be a great day for President Biden and Vice President Harris to #CancelStudentDebt. 🚩🚩🚩🚩🚩🚩🚩🚩🚩🚩🚩🚩🚩🚩🚩
— Chuck Schumer (@SenSchumer) November 12, 2021
In February, Biden rejected Democrats’ calls to cancel $50,000 of debt, instead entertaining a $10,000 figure. However, he has since done nothing to make that happen.
White House Press Secretary Jen Psaki later clarified Biden’s remarks, stating “he was reiterating his previous stated position, which is that he doesn’t favor $50,000 in student loan relief without limitations.”
Meanwhile, the pause on federal student loans due to the pandemic is set to end January of 2022.